RBC Bank

The Challenge:

As a global bank, RBC Royal Bank of Canada is focused on increasing its debit and credit card base, both business and consumer. Through bank acquisition and increased marketing efforts, RBC is on-boarding a substantial number of new customers. With an non-competitive relationship banking strategy; outdated loyalty platform; massive systems integration issues; a traditional product focus with disparate debit and credit, across consumer and business--How do you take these challenges and transform them into customer loyalty and create a true relationship banking strategy?

The Solution:

With the changing payments marketplace, RBC decided there was tremendous opportunity, by partnering with Kobie, to transition and enhance its existing rewards programs. Together, we implemented an enterprise-level, relationship banking strategy that allows user-generated pooling of RBC consumer debit and credit, business debit and credit, and can extend to other RBC products (e.g., mortgage, investments, insurance, etc). This enterprise loyalty management solution provides RBC Bank with the differentiation required to properly leverage customer relationships, drive incremental sales and increase customer retention and loyalty.

The Results:

Through the conversion process Kobie assessed the business P&L, redesigned the program value proposition - earn and burn equation, and built a relationship banking strategy with innovative elements such as “user-generated” pooling and householding. We were able to move the bank from a product-focused approach to a customer-centric approach.

For a FREE relationship banking or loyalty platform assessment, contact one of our relationship banking experts.